A delegation of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) met with newly appointed PM Pushpa Kamal Dahal at the latter’s residence in Khumaltar, Lalitpur.
On the occasion, FNCCI President Shekhar Golchha offered his congratulations on behalf of the private sector’s organisation.
The delegation led by Golchha reminded PM Dahal of the requests made earlier by the private sector’s organisation to play leading roles to save the country’s economy in view of multi-faceted effects on the economy.
On the occasion, FNCCI President Golchha suggested that the central bank should use all monetary instruments to postpone the Working Capital Loans Guidelines, 2079, for at least two years, and urged PM Dahal to take initiative to solve the current liquidity crisis which has emerged as the biggest problem in the operation of industrial business. Golchha expressed his view that the new government should focus on the national economy as it is in a very sensitive state.
Due to the multi-dimensional impact on the economy, the problem could not be resolved through the monetary policy review, and because of the overall banking problem, the industrialists have been facing a very difficult situation and are forced to come to the streets, Golchha asserted. The FNCCI President further said that the private sector expected meaningful initiatives from the Prime Minister.
Informing about the current situation, Golchha mentioned that the revenue which has been collected is not enough to cover the general expenses of the government. He also stated that inflation is at its highest in seven years, and the private sector which is considered to be the engine of economic growth has been dwindling.
Responding to the suggestions made by FNCCI, PM Dahal informed that the first meeting of the Council of Ministers has already taken important decisions focusing on economic recovery. He committed to giving priority to the interest of private sector. He said he will take initiative to solve problems after holding a meeting together with the Ministry of Finance, Nepal Rastra Bank and private sector soon.
